Wall Street brokerages expect that Mitek Systems Inc. (NASDAQ:MITK) will announce $0.04 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Mitek Systems’ earnings. Mitek Systems posted earnings per share of $0.08 during the same quarter last year, which would indicate a negative year over year growth rate of 50%. The company is scheduled to announce its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Mitek Systems will report full year earnings of $0.26 per share for the current year. For the next financial year, analysts anticipate that the business will report earnings of $0.41 per share, with EPS estimates ranging from $0.40 to $0.42. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Mitek Systems.
Mitek Systems (NASDAQ:MITK) last released its quarterly earnings results on Tuesday, May 1st. The software maker reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $14.28 million during the quarter, compared to analyst estimates of $13.41 million. Mitek Systems had a net margin of 12.89% and a return on equity of 6.68%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.08 EPS.
MITK has been the subject of a number of recent analyst reports. BidaskClub upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Thursday, May 3rd. Zacks Investment Research upgraded shares of Mitek Systems from a “sell” rating to a “hold” rating in a research report on Thursday, March 29th. ValuEngine upgraded shares of Mitek Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Finally, National Securities began coverage on shares of Mitek Systems in a report on Friday, March 9th. They set a “buy” rating and a $14.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $12.00.
Shares of Mitek Systems traded up $0.15, reaching $9.10, during mid-day trading on Thursday, according to Marketbeat.com. 294,806 shares of the stock traded hands, compared to its average volume of 305,341. The firm has a market capitalization of $306.77 million, a P/E ratio of 43.57, a price-to-earnings-growth ratio of 21.88 and a beta of 0.42. Mitek Systems has a 1 year low of $7.00 and a 1 year high of $10.75.
In other news, insider Jason Gray sold 7,452 shares of Mitek Systems stock in a transaction on Friday, April 27th. The shares were sold at an average price of $7.90, for a total transaction of $58,870.80. Following the completion of the sale, the insider now directly owns 83,536 shares of the company’s stock, valued at approximately $659,934.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO James B. Debello sold 50,000 shares of Mitek Systems stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $8.48, for a total transaction of $424,000.00. Following the sale, the chief executive officer now directly owns 787,340 shares of the company’s stock, valued at $6,676,643.20. The disclosure for this sale can be found here. Insiders have sold a total of 99,863 shares of company stock valued at $850,756 over the last ninety days. 8.52% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Archon Capital Management LLC lifted its holdings in shares of Mitek Systems by 80.3% during the 1st quarter. Archon Capital Management LLC now owns 1,479,578 shares of the software maker’s stock worth $10,949,000 after acquiring an additional 658,842 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Mitek Systems by 8.0% in the first quarter. Wells Fargo & Company MN now owns 1,299,895 shares of the software maker’s stock worth $9,619,000 after purchasing an additional 95,772 shares during the last quarter. Thomson Horstmann & Bryant Inc. lifted its stake in Mitek Systems by 35.0% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 883,376 shares of the software maker’s stock worth $6,536,000 after purchasing an additional 228,823 shares during the last quarter. Unterberg Capital LLC lifted its stake in Mitek Systems by 31.8% in the first quarter. Unterberg Capital LLC now owns 619,378 shares of the software maker’s stock worth $4,583,000 after purchasing an additional 149,378 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Mitek Systems by 454.7% in the fourth quarter. Renaissance Technologies LLC now owns 425,976 shares of the software maker’s stock worth $3,812,000 after purchasing an additional 349,177 shares during the last quarter. 45.93% of the stock is owned by institutional investors.
Mitek Systems Company Profile
Mitek Systems, Inc develops, markets, and sells mobile image capture and identity verification software solutions for enterprise customers worldwide. The company's solutions are embedded in native mobile apps and mobile optimized Websites to enhance mobile user experiences and transactions. It offers Mobile Deposit that allows individuals and businesses to remotely deposit checks using their camera-equipped smartphone or tablet; Mobile Verify, an identity verification solution that can be integrated into mobile apps, mobile Websites, and desktop applications; Mobile Fill to pre-fill forms with personal data by simply snapping a picture of the consumer's driver license, credit card, or other document; Mobile Docs, a mobile document scanning solution; and MiSnap Multi-Check Capture, a software development kit that banks embed in their business banking app that facilitates capture of various checks in one deposit session.
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